Criteo report on on ‘golden quarter’ for e-comm

23 Sep,2020

By A Correspondent

 

Criteo, the Nasdaq-listed company, has released its Holiday Report 2020 highlighting key trends in the online e-commerce industry in the festive season starting Raksha Bandhan, Big Billion Days and Diwali. The report highlights the top trends observed for the e-commerce market in India. Criteo bills this as the ‘Golden Quarter’ as e-commerce clocks significantly high growth.

 

KEY HIGHLIGHTS FROM THE REPORT

:: Retail Recovery – 28% YoY increase in online retail sales

:: Up to +343% – Sales of Flowers & Gifts categories increased in August 2019, compared to average in July during Raksha Bandhan

:: 70% increase in sales for Food & Beverages during Raksha Bandhan. Previous year, it was increased by 50%, showcasing a significant increase up to 70% following the event

:: Overall, retail sales up 39% for Big Billion Days, 27% on average during the entire week, compared to average in August.

:: For every 1,000 visitors to Indian retailers, there is significantly more transactions than usual. The week of Big Billion Days represent +27% sales for +19% traffic

:: 50% increase of App sales, just one month after Diwali 2019

:: 32% increase in sales in the Food & Beverage category

:: 16% travel upliftment & bookings just after Diwali 2019

 

Overcoming such unprecedented times, online retail is back to pre-Covid-19 numbers, and steadily growing upwards since then. As 2020 sales are increasing progressively; 2019 data provides relevant context and describes the strong seasonality expected in coming weeks. According to the report, there has been a 28% year on year increase in the overall online retail sales.

 

Speaking on the report, Taranjeet Singh, Managing Director of South East Asia and India, Criteo, said: “During these trying times, the Indian E-commerce industry has been on a steady upward growth trajectory showcasing a gradual shift of consumers towards E-commerce websites for purchases. Consumers have moved onto a stage where purchasing online has become their daily routine in order to fulfil all their demands for food, beverages and festive gifting. Expanding businesses on E-commerce platforms is the need of the hour. This golden quarter signals a revival in demand and consumer sentiment at large on ecommerce platforms.”

 

 

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